Check out this tool:
http://mctvconverter.vivolum.net/Basically it converts wtv to mp4 or mkv taking the mpeg2 and transcoding to mpeg4 with other options making it easy for portable devices etc. to play the files.
It doesn't do <Series Name> SXXEXX format. It can't from the meta data that is in the wtv. (it does put the same meta data that is in the WTV file into the mp4 file though.)
It would be nice if recorded tv could read meta data in mp4s if available and if not be able to read the default file name from mctvconverter on top of the other formats it already handles.
Basically the format is series name - Episode name
Which should be enough to get a hit from the various meta data services out there.